Credit Union tech-talk News

August 11 - August 15, 2008

• General News
• Hardware News
• Software Updates
• ATMs/Kiosks
• Biometric Digest Highlights
• Wireless World
• Security Section
• Leaders Roundtable
• Technology and Marketing
• Online Banking/E-Commerce/
  Website Design
• Internet Access
• Call Centers
• Conferences

* Two CUs Select CUOL as Technology Partner
* Digital Dialogue Signs 100th Total Member Care Client
* Xtend Chooses Member Access Pacific
* FIS Signs Two CUs for Base2000 for Credit Card Processing
* CorePROFIT Solutions Signs 8 New CUs Through Mid-Year

Credit Union On-Line, Inc. (CUOL), the country’s only data center provider of FiServ’s XP2 platform, announced that UCF Federal Credit Union and Blackhawk Area Credit Union have selected CUOL as its complete technology solutions provider. UCF FCU is a $42 million credit union located in Orlando, FL, and Blackhawk Area CU is located in Savanna, IL.

Digital Dialogue, a PSCU Financial Services company and nationwide provider of 24/7 call center operations and software solutions to credit unions, has signed Reno, NV-based Clearstar Financial Credit Union as its 100th Total Member Care call center client. With $175 million in assets and 17,633 members, Clearstar Financial Credit Union is using a Symitar interface for Digital Dialogue’s call center services. The company plans to add Digital Dialogue’s lending and new member enrollment services in the future.

Xtend, a Grand Rapids, MI-based financial services CUSO, has chosen Member Access Pacific, a Seattle-based CUSO, as its prepaid gift card and reloadable card solution partner. Through this partnership, Xtend will market Member Access Pacific prepaid and reloadable cards based on its relationship with over 165 credit unions nationwide, representing 1.5 million members and $10 billion in credit union assets.

Fidelity National Information Services (FIS) announced the addition of two new clients on its Base2000 credit card processing platform. Tower Federal Credit Union, of Laurel, MD, has an $87-million credit card portfolio with more than 40,000 credit card accounts. Dow Chemical Employees' Credit Union of Midland, MI, has a $26-million credit card portfolio and more than 19,000 accounts. 

CorePROFIT Solutions, a leading profitability solutions company, announced that it has signed on eight new credit union clients this year to date. Those credit unions are: ESL FCU: HarborOne CU; Virginia CU; ORNL FCU; Sharonview FCU; DuPont Community CU; Members Choice CU; and Comstar FCU.

Hardware News

Texas Memory Systems’ RamSan-500 solid state disk (SSD) is one of the best SSDs on the market today. The RamSan-500 provides up to 2TB of storage, with as many as 100,000 I/O operations per second (IOPS) sustained random reads, 10,000 IOPS sustained random writes, and 2GBps of sustained random read/write bandwidth. Texas Memory Systems claims that “compared to a similar capacity high-end hard disk–based RAID system, the RamSan-500 can deliver in excess of 16 times the performance while using 50 percent less power.” 

In a related story, Samsung is in talks with Microsoft to improve the performance of SSDs on Windows operating systems. The speed and way in which SSDs fetch and cache data are different than hard drives. Therefore, Samsung hopes to work with Microsoft to boost SSD performance on Windows by discovering optimal packet sizes for data transfers and the best ways to read and write files.

Lenovo announced the IdeaPad S10, the company's first Netbook. The IdeaPad S10 will include a 10.2-inch LED-backlit display, an Intel Atom processor, a keyboard that is 85 percent the size of a full-size laptop keyboard, and Windows XP. A $399 model will include 512MB of RAM and an 80GB hard drive, and $449 will bump those specs up to 1GB of memory and a 160GB drive. 

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ATMs/Kiosks

The new universal ATM pictogram recently released by the ATM Industry Association is now available at website created by NSA, a provider of field marketing and image-presentation services for ATM deployers. The ATMIA notes that the pictogram makes it easy to find an ATM — and even helps eliminate language barriers. NSA estimates that 85,000 ATMs will be signed using the pictogram in the first year, with some 20,000 in the U.S. 

Philadelphia Federal Credit Union has joined the Select-A-Branch ATM Network. PFCU card holder members can now receive surcharge-free transactions at over 150 S-A-B locations. The S-A-B ATMs will deliver PFCU advertisements and marketing messages to both the transaction screens and the dynamically printed receipt. 

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Broad interest and investment in an array of biometrics technologies around the world will drive spending to $7.3 billion by 2013, up from around $3 billion in 2008 according to ABI Research. “Face, iris, hand, and speech recognition systems have emerged and are being adopted independently and alongside fingerprints, which will continue be the dominant biometric measurement for some time to come,” ABI officials say. “Nevertheless, it will be increasingly essential for organizations and companies, as they secure their facilities, equipment, and data, to understand the potential of each of these technologies as well as the potential to combine them to drive system efficiency and reliability.”

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AT&T says that they are considering a range of technology solutions to replace traditional copper lines. At the top of the list is WiMAX, which the telecom giant said could work in some U.S. markets, especially in rural areas where it is most expensive to maintain copper. AT&T has a substantial portfolio of 2.3 GHz spectrum in the U.S. and must cover 25 percent of the population by July 2010. 

Callahan is reporting that the majority of credit unions surveyed in their 2008 Technology Guide plan to invest in mobile banking technology over the next two years. Currently, about one-tenth of responding credit unions reported that they offer some type of mobile banking, while about one-third of respondents did not currently offer mobile banking and anticipate no investments in mobile technology in 2008/2009.

While the higher speeds of wireless carriers' 3G networks are helping to drive mobile banking and m-commerce, 4G networks are in the works. The shift to 4G is inevitable, but when will it happen and what technology will win out? We will cover these topics in the September issue of Credit Union tech-talk - subscribe now.

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NovaShield is an anti-malware startup founded by several researchers from the University of Wisconsin, and they are offering a pre-release version of its first product, NovaShield AntiMalware 2.0, as a free 90-day trial. The firm says that their software can detect new malware using what they call “specification-based modeling,” akin to behavioral monitoring for catching unknown threats. 

Tufin Technologies announced that their SecureTrack application has been extended beyond firewall auditing to support other network devices, namely Cisco routers and switches. This provides security managers with a unified interface for simultaneous monitoring of both firewall operations and network devices. SecureTrack 4.3 also provides comprehensive change tracking for device configurations, access control lists and routing tables, with real-time change alerts and reports. 

Last week we reported that the Privacy Rights Clearinghouse believes that many identity-theft monitoring services are overpriced and don't provide anything close to full protection against identity theft or credit fraud. However, there is an identity protection network that has been in operation since 2004 that claims that they are far more effective than their ID protection competitors. We will tell you how their network works in the September issue of Credit Union tech-talk - subscribe now.

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Online Banking:

Online Banking…. Catering to Your Most Desirable Members

Digital Resolve - http://www.digital-resolve.net Read Dennis Maicon's comments: http://www.cunews.com/roundtable/DigitalResolve.pdf

Exstream - http://www.exstream.com   Read Jerry Driscoll's comments:   http://www.cunews.com/roundtable/Exstream.pdf

Fiserv - http://www.cu7.fiserv.com Read Dave Selina's comments:     http://www.cunews.com/roundtable/Fiserv.pdf

Fiserv - http://www.cu7.fiserv.com Read Jay Slavin's comments:     http://www.cunews.com/roundtable/Galaxy.pdf

Gartner - http://www.gartner.com   Read David Schehr's comments:   http://www.cunews.com/roundtable/Gartner.pdf

Harland Financial Solutions - http://www.harlandfinancialsolutions.com   Read Peter McKellar's comments:   http://www.cunews.com/roundtable/HFS.pdf

Microsoft - http://www.microsoft.com   Read Marley Gray's comments:   http://www.cunews.com/roundtable/Microsoft.pdf

Open Solutions - http://www.opensolutions.com Read Michael Nicastro's comments: http://www.cunews.com/roundtable/OSI.pdf

uMonitor - http://www.umonitor.com   Read Dinesh Sheth's comments:   http://www.cunews.com/roundtable/uMonitor.pdf

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Research firm Mintel is recommending that credit unions target teenagers and their parents for prepaid debit cards. Prepaid cards have many teen-friendly features, according to Mintel. Unlike credit cards, they carry no risk of debt or overdraft fees; cardholders can only spend the amount of money pre-paid onto the card. Additionally, prepaid cards offer the protection of a credit card and the opportunity to build credit. The cards are generally accepted wherever credit and debit cards can be used - plus the firm notes that they can convey a “cool” status for teens.

Phoenix-based Desert Schools Federal Credit Union is one of the first credit unions in the country to offer dental insurance to its members. Coverage is provided in conjunction with Delta Dental of Arizona, the leading dental benefits provider in the state, and includes the largest network of dentists in Arizona. The good news for members is that they qualify for coverage regardless of dental history or pre-existing conditions.

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NACHA has extended by six months the deadline for financial institutions to start processing a new automated clearing house transaction type representing payments flowing into and out of the U.S. NACHA says it decided to grant the extension so that financial institutions and their vendors will have more time to test their systems. NACHA arrived at the new deadline, Sept. 18, 2009, after it surveyed financial institutions and processors in an effort to gauge readiness for the original March 20 deadline. NACHA is introducing a new transaction code, IAT, or International ACH Transaction, to account for the cross-border payment traffic. The new code will replace two existing NACHA codes for international payments, PBR for consumer payments and CBR for commercial transactions. 

A financial services comparison website has been launched that enables consumers to post reviews and recommendations on a range of personal banking products and services. In addition to providing account and rate information that is updated in real time, the My Bank Tracker site enables registered users to post reviews and recommendations on financial institutions and services via a social networking interface. Mortgages, credit card and a SMS-based rate alert systems will be added to the site over the next few months.

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Credit unions that use Cisco's NetFlow protocol may want to consider a new free tool that they can download to get started analyzing Cisco's NetFlow data on their networks. SolarWinds says that their Real-time NetFlow Analyzer will help network managers more quickly determine why their network is slow. The software continuously captures and analyzes network traffic data to help network managers pinpoint the source of congestion issues. Common causes of slow network performance are insufficient bandwidth and improper network usage, according to SolarWinds, and network managers need to have visibility into the traffic to determine how network resources are being used and by whom. 

Small credit unions with five or fewer employees may want to consider a new VoIP phone service with a VoIP business phone system. According to Telanetix, their Digital Phone Service AccessLine package is up to 50% less expensive than comparable offerings from traditional phone companies and equipment manufacturers. The service includes local and long-distance calling, it supports toll free and international calling, and includes traditional VoIP system features like fax mailboxes and automated attendant. Connectivity is provided over an existing broadband connection, although as part of the order process AccessLine will test and prequalify the broadband access line to make sure it provides sufficient quality and capacity to support the system ordered. AccessLine also continues to monitor the circuit and can remotely manage the phone system once installed. Prices for the starter package begins around $80 per month with unlimited local calling and 3,000 monthly minutes of domestic long-distance. 

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PanTerra Networks, a provider of on-demand unified communications services for small and mid-sized businesses, announced the availability of PanTerra Networks WorkSuite Call Center. WorkSuite Call Center is an on-demand SaaS platform that eliminates all the hardware devices and allows representatives to work anywhere there is a broadband connection and a soft phone. Calls are automatically routed to the correct individual or department through easy to setup automatic call distribution groups. Supervisors can coach agents from anywhere at any time via silent listen, whisper or barge-in modes available in the live call monitoring feature. Supervisors and managers also have visibility into call patterns, volumes, and service levels with real-time activity reporting via advanced call center management functions.

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Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2008:

October 15-18, Las Vegas - Firefighters' National Credit Union Summit

November 13-15, New Orleans - Credit Union InfoTech Conference

June 4-5, Lake Las Vegas - Credit Union InfoSecurity Conference

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